RCM&D, an independent re/insurance brokerage and risk advisory firm, has entered a strategic partnership with Risk Cooperative, a risk and insurance advisory firm and coverholder at Lloyd’s in Washington, D.C.
The partnership is expected to strengthen RCM&D’s regional presence in the mid-Atlantic, which already includes offices in Baltimore, Harrisburg, Philadelphia, and Washington D.C, in addition to supporting revenue growth and creating an integrated risk and insurance platform.
RCM&D explained that Risk Cooperative’s expertise in complex risk, coverage design, channel strategy and innovation will help accelerate its growth in key market segments while helping customers to keep pace with an evolving risk landscape.
The two companies plan to integrate their regional leadership under the overall direction of Dante Disparte, founder and Chief Executive Officer (CEO) of Risk Cooperative, while leveraging their expertise to improve customer resilience, enterprise management and operational efficiency.
This will include cyber security, political risk, risk management consulting, as well as RCM&D’s broad base of solutions from captives to total cost of risk containment and insurance.
Risk Cooperative is licensed as an insurance broker in all 50 states, D.C. and Puerto Rico and has direct access to the Lloyd’s insurance market, as one of a handful of coverholders in the region. It has also established a risk innovation and technology hub called RC Labs.
“Finding a partner firm with an aligned value system, growth platform and exceptional leadership is rare in the industry,” Bob Cawley, RCM&D’s President and Chief Operating Officer.
“Risk Cooperative has filled this void in the D.C. market and in only a few years of trade, has become a global voice championing improvement in risk, readiness and resilience,” Cawley added. “We are proud to partner with Risk Cooperative to lead our regional activities, drive our growth plans and improve customer resilience.”
Disparte also commented: “Partnering with RCM&D signals that Risk Cooperative has entered the next phase of the business. The risk transfer industry has sadly lost much of its independence through wave after wave of consolidation and acquisitions.
“Bringing our two independent platforms together, along with the backing of the Assurex Global Partnership, the top five insurance placing group in the world, means that our customers and key markets will never lose independent advocacy. RCM&D has been committed to this model for more than 130 years.”